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Adjustable Rate Mortgages Loans (ARM)

Not all members want or need a long term fixed rate mortgage. Will you even be in your home for more than 3 to 5 years? Maybe your present situation may not qualify you for a fixed rate mortgage. Our ARM program is an excellent alternative. We fix the interest rates for 3 or 5 years with the payments amortized for any term up to 30 years. Plus, the closing costs for an ARM are less than fixed rate programs. We can reevaluate your needs during the rate lock period and if qualified may assist you in refinancing your loan to a fixed rate program.

An adjustable rate mortgage, or an “ARM”, is a loan for members that do not need, qualify for or want a long term loan. Rates and/or fees may vary depending upon member’s credit score, loan-to-value and other factors. On adjustable rate loans, interest rates are subject to potential increases over the life of the loan, once the initial fixed rate period expires. For Portfolio ARM interest rates, at adjustment your new mortgage rate will be based on an index plus a margin to annual and lifetime adjustment caps.